Megaworld to expand Eastwood City

Posted at | Updated as of 05/26/14 10:02 PM

MANILA, Philippines - Eastwood City is set to get even bigger.

Megaworld Corp. on Monday said it has acquired an additional 1.5 hectares in the eastern part of Eastwood City to bring the township's total land area to 18.5 hectares.

"The tremendous success of Eastwood City as the country’s first cyberpark and premiere township has attracted thousands of Filipinos to live here, hundreds of IT and BPO companies to operate here, and thousands of visitors and shoppers to enjoy what life in Eastwood can offer. We have envisioned the expansion of this township years ago, and now, it is happening," Jericho P. Go, senior vice president, Megaworld, said.

Megaworld is planning to add at least three office towers in Eastwood City. The first would be a high-rise mixed-use tower that combines residential, office and commercial spaces.

The Andrew Tan-led property developer projects to add around 100,000 square meters of office spaces in the next few years and around 600 residential units in the new area.

"With the expansion, we are looking forward to a more exciting mix of new commercial and retail partners in this new side of Eastwood City," Kevin L. Tan, first vice president and head of commercial division, Megaworld, said.

Eastwood City, which was established in 1999, is considered Megaworld's most successful township. At present, Eastwood City has 10 office buildings, mostly occupied by some of the country’s biggest IT-BPO companies; 19 residential condominium towers, three Megaworld lifestyle malls and the Eastwood Richmonde Hotel.